EFFECT ON BUSINESS.

New Zealand Herald, Volume LXI, Issue 18862, 10 November 1924, Page 8

EFFECT ON BUSINESS.

IMPROVEMENT SETS IN.

HUGE STOCK EXCHANGE TRADING

Australian and N.Z. Cable Association. (Reed. 5.5 p.m.) NEW YORK. Nov. 8. Bankers and industrial leaders predict a great improvement in business as a result of the elections.

Judge Gary, chairman of the United States Steel Trust, says that never before in history has any country had such an opportunity of advancement as America has to-day.

Led by railway shares, the Stock Exchange to-day made a record upward swing, on the crest of a tremendous rising movement, started by the results of the elections. Already hundreds of millions of dollars had been added to the market value of securities. - The advance continued to-day, which was one of the greatest, trading days recorded, considering that the market closed early. Officials state that the public are entering into trading concerns more freely than for many years. Nearly 1,500,000 shares and stock changed hands this morning. The total. value of the bonds sold was nearly 14,000,000 dollars.

There was almost a record turnover on Friday of 2,250,000 shares with business in 506 separate issues, and a total of bond sales amounting to nearly 25,000,000 dollars, which is the highest record of recent years. The volume of business was greater than it has been since November, 1919. Every brokerage house worked at top speed in handling the tremendous volume of business.